Intellectual property embodies unique work reflecting someone’s creativity. Unlike physical assets like cars and computers, these intangible assets are incredibly valuable to businesses.
They build brand equity and give companies a competitive advantage. To protect these valuable assets, businesses must secure their intellectual property through patents, copyrights and trademarks.
Trademarks
Trademarks are words, symbols or designs that identify the source of goods or services. They can also be used in connection with a service (in which case they are called “service marks”). Common trademarks include the Nike swoosh, Apple’s bitten apple and the OREO cookie. In the United States, trademarks that are not registered are denoted by the letter “tm,” while those that are register have an “r.”
Trademark law protects brand names and logos from being used by others in connection with the same products or services. This can prevent confusion for consumers who may not know whether a particular product or service comes from the same source as another one. Unlike patents and copyrights, which generally last for one-off fixed terms, trademarks can be renewed as long as the owner continues to use and defend them, says one Sandy attorney for corporations.
Although they are all considered intellectual property, patents, copyrights and trademarks differ from each other. While trademarks protect brand names and logos, patents protect inventions, and copyrights protect original artistic or literary works.
While a patent and a copyright protect intellectual property upon their creation, trademarks are generally granted for ten-year terms that can be renewed as long as the owner continues use and defends them. Moreover, trademarks are protected nationally while patents and copyrights are only protective in their country of origin or registration.
As a result, businesses that operate in multiple jurisdictions may need to secure federal and state trademarks for each of them. A trademark is often used in combination with other features to create a brand experience. For example, a business’s name, logo and slogan might comprise a mark, while its package design might constitute a second mark and its sounds or jingles might be a third mark.
Some brands have a reputation that precedes them, which can allow them to avoid the cost and hassle of registering their trademark. However, the fact that a certain term was commonly used before it became popular doesn’t necessarily make it immune to trademark infringement. For instance, the use of “Whisper Quiet” by Maytag in connection with dishwashers was found not to violate the company’s rights in that trademark because it was widely used before it became generic.
Copyrights
Copyrights protect literary and artistic works created by an individual, including a manuscript, novel, song lyrics, paintings, photographs, and even sound recordings. The idea itself cannot be protected under copyright law, only the tangible expression of that idea. This protection lasts for the lifetime of the creator plus 70 years. If you own a copyright to an original work and you discover that it is being used without your permission, you can file a lawsuit against the person using it. This will not only ensure that you are paid for your intellectual property but also prevent others from taking advantage of your work.
When it comes to protecting intellectual property, a variety of different legal strategies can be employed. It is important that you have an experienced intellectual property attorney on your side who can help guide you through the process and answer any questions you may have.
Intellectual property is critical to business, especially in the modern world where information is more easily accessed and distributed than ever before. Protecting your inventions and product ideas from infringers is crucial to the success of your business, whether you are an emerging start-up or a large corporation.
It is important to take steps to protect your intellectual property, such as by registering your trademarks and copyrighting your work. There are also other legal protections available, such as patents and trade secrets, which can be applied to specific inventions and discoveries.
Patents are a great option for inventions that can be put into production or sold. Trademarks are useful for identifying your company’s products or services, and can be registered in countries where you conduct business. In addition to these protections, you can also consider seeking international protection for your IP.
A well-thought-out intellectual property strategy is essential for any business. Your intellectual property lawyer can provide you with guidance on registration, enforcement, and drafting robust legal agreements to safeguard your intellectual property assets.
You should also be wary of sharing confidential information about your business with people unless you are certain that they will be able to keep it private and protected. This includes employees and consultants who will have access to your confidential business information, as well as partners and vendors with whom you plan to share your ideas or products. You can protect your intellectual property by having them sign non-disclosure agreements before they receive any information from you.
Patents
Patents offer protection to inventions of a technical nature, and can be used to prevent others from making, using or selling the invention without the inventor’s permission. As with copyrights and trademarks, patents are granted by governing bodies and are protected for a limited time.
Patents are a key component for encouraging innovation and entrepreneurship. They reward inventors for bringing new products and services to the market by giving them exclusive rights for 20 years to stop competitors from copying their technology. These exclusive rights also help attract investors, which can fuel growth.
However, patents come with some drawbacks. For one, they can be expensive and time-consuming to obtain. In addition, they require disclosure of the specifics of the invention including how it works on a technical level, which can put competitors at an advantage if they are able to reverse engineer the invention.
Despite the drawbacks, patents remain a vital tool for fostering innovation and creating jobs. In addition, they serve as a foundation for enabling startups to grow their businesses and compete on a global scale.
While both trade secret protection and patents have their merits, inventors should carefully weigh the benefits and costs before choosing one form of intellectual property to protect their inventions. A reputable intellectual property attorney can assist inventors in determining which option is best for their needs, as well as advising them of the steps needed to protect their IP.
In today’s landscape where ideas are the currency of success, a solid IP strategy is essential to building a successful business. Contact the team at Zale Patent Law to learn more about how we can support your business with patent, trademark, and copyright services.
The word “patent” is derived from the Latin patere, meaning “to lay open.” It refers to an open document issued by a monarch or government that grants an inventor exclusive rights for a specified period of time. Early examples of this included land patents in the US and printing patents in Europe. Patents were later adapted by the World Trade Organization to grant a minimum of twenty years of monopoly protection.
Trade Secrets
Just like tangible assets such as equipment, buildings and inventory, intellectual property is a valuable asset for businesses. As such, it should be managed and protected as diligently as other business assets. This includes the use of systems and procedures for protecting intellectual property, as well as working with an attorney to ensure that protections are in place.
Trade secrets are confidential information that gives businesses a competitive advantage. These can include engineering information such as tolerances and formulas; production processes; strategic information such as customer lists; and other business or financial data including budgets. These are often highly sensitive and can lead to severe punishment for misappropriation.
Employees are automatically bound by a duty of confidentiality with respect to their employer’s trade secret, and can be sued for violating this if they disclose them in the course of employment with another company. A trade secret can also be forfeited by court order if it is accessed without permission, disclosed to the public or used for commercial gain.
The UC Berkeley Intellectual Property & Industry Research Alliance(link is external) works with industry partners to set the terms of confidentiality for researchers who are collaborating on projects. These agreements are designed to help the companies protect their intellectual property, as well as the researchers’ own.
In the United States, both state and federal laws protect trade secrets. Most states have adopted a version of the Uniform Trade Secrets Act, and Congress has enacted both the Defend Trade Secrets Act and the Economic Espionage Act to provide both civil and criminal remedies for the misappropriation of trade secrets.
As a business owner, you are responsible for managing all your company’s assets. That includes the intellectual property you have created. By reviewing your intellectual property and putting systems in place to keep it secure, you can ensure that you have the tools necessary to maximize the value of your business.
An intellectual property lawyer can guide you through the process of filing for trademarks, patents and copyrights to secure the maximum rights available for your work. Once those are in place, you can start developing an enforcement strategy to protect your assets against infringements.
